Working Paper: CEPR ID: DP13553
Authors: Thomas Philippon
Abstract: We study the evolution of super star firms in the U.S. economy over the past 60 years. Contrary to common wisdom, sup-er stars firms have not become larger, have not become more productive, and contribution of star firms to aggregate U.S. productivity growth has fallen by more than one third since 2000.
Keywords: No keywords provided
JEL Codes: No JEL codes provided
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| superstar firms (L10) | productivity growth (O49) |
| superstar firms (L10) | contribution to productivity growth (O49) |
| resource reallocation (Q20) | productivity growth (O49) |
| barriers to entry (D43) | contribution of superstar firms to productivity growth (O49) |
| reduced competition (L19) | contribution of superstar firms to productivity growth (O49) |